There are generally certain requirements to qualify for an installment loan. The good news is that you don't always have to have perfect credit. You do need to have steady income, prove your identity, and have an open checking account in good standing, among other requirements.
Why do you need a bank account to get a loan? That is what we're going to answer for you here as well as give you some added incentive to open an account if you don't have one already.